State Department Federal Credit Union (SDFCU) EMV Savings Secured Visa Platinum Card Review
Things We Like
Things We Dislike
The State Department Federal Credit Union (SDFCU) EMV Savings Secured Visa Platinum Credit Card is a fantastic secured credit card. They offer rates as low as 6.99% APR and no annual fee. Members get to enjoy these great rates and more as they even offer rewards at a point per dollar in their Flexpoints Rewards Program. Something becoming more rare these days, you can enjoy transferring a balance without incurring balance transfer fees. Usually, these fees are around 3%.
The card is already positioned for the new chip card standard which is being found at more and more retailers domestically and has been internationally for years. It just so happens that the U.S. is a bit late to the EMV chip card party. EMV stands for Europay, MasterCard, Visa. Those were the three institutions that started the standard. But, I digress.
For international travelers, this is a good card as there are no foreign transaction fees. Some nice consumer convenience features include credit card member alerts to help alert you to any potential fraud and you can easily change your credit card PIN via a short automated teller phone call. Another really nice feature is that card based term life insurance is available. They offer guaranteed life insurance admittance up to age 65. Plan coverage is available from $75,000 to $250,000 and prices start to $19.25 per month.
- Rates as low as 6.99% APR*
- Secure chip-enabled technology for use overseas
- No income verification or credit check required
- Limits as low as $250
- No foreign transaction fees
- No annual fees
- No balance transfer fees
- Magnetic stripe for ease of use domestically
- Point-per-dollar Flexpoints Rewards Program
- Credit Card Member Alerts
- Change Your Credit Card PIN
- Card Based Life Insurance Available
With credit union cards, you have one extra hoop to jump through that you do not have with bank cards or other card issuers. You must be eligible for credit union membership. There is GREAT NEWS here!
According to their website, you may join SDFCU if you are an employee of The Department of State or one of the organizations found here. There are a LOT of organizations listed. Also, as with most credit unions, family members can invite or qualify other immediate family members for membership. So, if you do not meet one of those eligibility requirements, they make it easy through membership in an affiliate organization. As a consumer, you may be eligible to join the credit union through the American Consumer Council (ACC), a nonprofit advocacy group. For those joining through ACC, you will need to simply choose ACC on your application.
EMV Chipped Card Information
For more information on EMV security and using EMV chipped cards, click here.
This is a great card. They have very open membership eligibility requirements, and you can apply online and soon find yourself with a shiny new secured card with no annual fee and a rate as low as 6.99%. At the time of this review, this is the lowest rate on a secured card we have seen, especially with no annual fee.